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2. <br />3. <br />Periodic Inspections. Throughout the term of this contract, the BoRROweR shall permit <br />a designated representative of the CWCB to make periodic inspections of the PRO,Iec'r. <br />Such inspections shall cover the condition of the PRO�ec7, operating records, <br />maintenance records, and financial records. These inspections are solely for the <br />purpose of verifying compliance with the terms and conditions of this contract and shall <br />not be construed nor interpreted as an approval of the actual design, construction or <br />operation of any element of the PRO�ecT facilities <br />Applicable Laws. The BoRROweR shall strictly adhere to all applicable federal, state, <br />and local laws and regulations that are in effect or may hereafter be established <br />throughout the term of this contract. <br />Designated Agent Of The CWCB. The'CWCB's employees are designated as the <br />agents of the CWCB for the purpose of this contract. <br />a. Assignment. The BoRROweR may not assign this contract except with the prior written <br />approval of the CWCB. <br />5. Contract Relationship. The parties to this contract intend that the relationship <br />between them under this contract is that of lender-borrower, not employer-employee. <br />No agent, employee, or servant of the BoRRbweR shall be, or shall be deemed to be, <br />an employee, agent, or servant of the CWCB. The BoRftoweR sha{I be solely and <br />entirely responsible for its acts and the acts of its agents, employees, servants, <br />engineering firms, construction firms, and subcontractors during the term of this <br />contract. <br />6. Integration Of Terms. This contract is intended as the complete integration of all <br />understandings between the parties. No prior or contemporaneous addition, deletion, <br />or other amendment hereto shall have any force or effect whatsoever unless embodied <br />herein in writing. No subsequent novation, renewal, addition, deletion, or other <br />amendment hereto shall have any force or effect unless embodied in a written contract <br />executed and approved pursuant to STATe fiscal rules, unless expressly provided for <br />herein. <br />7. Controlling Terms. In the event of conflicts or inconsistencies between the terms of <br />this contract and conditions as set forth in any of the appendices, such conflicts or <br />inconsistencies shall be resolved by reference to the documents in the following order <br />of priority: (1) Colorado Special Provisions, (2) the remainder of this contract, and (3) <br />the Appendices. <br />s. Casualty and Eminent Domain. If, at any time, during the term of this contract, (a) the <br />BORROWER PRO�ecT facilities including buildings or any portion thereof, are damaged <br />or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the <br />PRO�ecr facilities or any part thereof shall be taken under the exercise of the power of <br />eminent domain, the BoRROweR shall cause the net proceeds of any insurance claim or <br />condemnation award to be applied to the prompt replacement, repair and restoration of <br />the PRO�ecr facilities or any portion thereof, or to repayment of this loan. Any net <br />proceeds remaining after such work has been completed or this loan has been repaid, <br />shall be retained by the BoRROweR. If the net insurance proceeds are insu�cient to <br />pay the full cost of the replacement, repair and restoration, the BORROWER SF18II <br />complete the work and pay any cost in excess of the net proceeds. tn the event <br />Page 7 of 10 <br />